ZhongAn Service (02271) and AIROBO have established a joint venture company, Siasun Robot & Automation Operational Services, to expand smart property management and Siasun Robot & Automation operational service businesses.

ZHONGAN SERVICE (02271) announced that its indirectly wholly-owned subsidiary Zhejiang Zhongan Smart Technology Co., Ltd. (Zhongan Smart Technology) entered into a framework agreement for a joint venture with AIROBO (Chengdu) Technology Co., Ltd. (AIROBO) on August 25, 2026. According to this agreement, Zhongan Smart Technology and AIROBO agree to jointly invest in the establishment of a joint venture company to provide Siasun Robot & Automation operation services targeting property and community scenarios, leveraging the complementary business advantages of both parties. Under the framework agreement, Zhongan Smart Technology and AIROBO agree to cooperate in the following areas: (i) Registered capital and equity structure: The registered capital of the joint venture company is RMB 20 million, with Zhongan Smart Technology contributing RMB 12 million, accounting for 60% of the registered capital, and AIROBO contributing RMB 8 million, accounting for 40%. Both parties will contribute funds in cash and will make phased contributions within five years after the establishment of the joint venture. (ii) Joint venture business: The joint venture is positioned as a Siasun Robot & Automation operation service platform focusing on property and community scenarios. Its business scope includes Siasun Robot & Automation operation services (such as delivery, cleaning, security patrolling, equipment inspection, etc.), construction and services of the Siasun Robot & Automation operation platform, comprehensive solution services for Siasun Robot & Automation, as well as value-added services such as platform services, Siasun Robot & Automation services, and data interfaces. The joint venture will provide sustainable and replicable Siasun Robot & Automation operation solutions for the property industry through the commercial model of "Siasun Robot & Automation equipment + operation platform + scenario services." (iii) Governance arrangements: The board of directors of the joint venture will consist of three directors, with Zhongan Smart Technology appointing two directors and the chairman, and AIROBO appointing one director; the general manager will be nominated by AIROBO, and the financial officer will be nominated by Zhongan Smart Technology. (iv) Intellectual property: The existing Siasun Robot & Automation operation platform, underlying technical architecture, and software systems of AIROBO are core assets of AIROBO, and the joint venture will only obtain the right to use them within the scope of cooperation, without any transfer of ownership. New intellectual property created by the joint venture will belong to the joint venture. By establishing the joint venture, both parties will integrate resources and leverage cooperative development advantages to jointly expand the Siasun Robot & Automation operation market in property and community scenarios, enhancing their competitiveness in the Chinese market and other potential markets. AIROBO is a leading service provider of the Siasun Robot & Automation operation platform, dedicated to building the Siasun Robot & Automation operation platform and unified operation network, providing access, scheduling, and operation management services for property and community scenarios. AIROBO (Chengdu) Technology Co., Ltd. is an indirect non-wholly-owned subsidiary of HONY MEDIA. The board believes that the establishment of the joint venture will bring more promising business opportunities to the group and allow the group to leverage the advantages and/or resources of both the group and AIROBO. AIROBO is a leading service provider in the Siasun Robot & Automation operation platform field, while the group possesses rich resources in property management and community service scenarios in China. Through the establishment of the joint venture, the group can leverage AIROBO's Siasun Robot & Automation operation platform and technical capabilities, combined with the groups property and community scenarios, to expand smart property and Siasun Robot & Automation operation service businesses, promote diversified development of the group's operations, and align with the overall interests of the company and its shareholders.